压力已变成政治和监管议题。FERC 安排在 July 23 举行会议讨论改革，包括治理变革；同时 FERC 主席 Laura Swett 和一名 White House 高级官员表示，如果改革失败，可能需要考虑将 PJM 拆分为较小部分。American Electric Power Co. 已威胁退出 PJM，Pennsylvania 也威胁退出。PJM 批发电价在 2026 年前 3 个月较 2025 年同期上涨 76%，平均为每兆瓦时 $136.53，而容量成本攀升近 400%。President Donald Trump 和多位州长推动举行一次性拍卖，由科技公司透过 15 年容量合约为新增发电提供资金。
更深层的问题在于 PJM 复杂的治理和市场设计：超过 500 名有投票权成员，包括公用事业公司和发电商，会影响政策，而员工和董事会也会作出决策。Mills 描述了价格高到足以刺激发电厂建设、但帐单低到足以让家庭负担之间的可信度落差。PJM 已列出多种选项，包括更多长期合约，甚至可能在消费者之间实施用电配给，而气候驱动的高温和风暴则提高停电风险。PJM 的独立市场监督机构估计，资料中心热潮为截至 2028 年中期的 3 年增加了约 $23 billion 的容量保险成本，官员警告称，如果没有联邦干预，AEP 退出可能引发更广泛的分裂。
Soaring US power bills are putting PJM Interconnection LLC, the largest US electric grid operator, under intense federal and state scrutiny. PJM serves 13 states from Illinois to New Jersey and supplies electricity to 67 million people, nearly one-fifth of the US population. Rapid growth in data centers, especially in northern Virginia's Data Center Alley, is straining supply after decades of mostly flat electricity demand. Federal Energy Regulatory Commission officials, state leaders, utilities, and PJM Chief Executive Officer David Mills say the current setup is increasingly unable to balance reliability, new power plant approvals, and consumer affordability.
The pressure has become political and regulatory. FERC scheduled a July 23 meeting to discuss reforms, including governance changes, while FERC Chairman Laura Swett and a senior White House official said breaking PJM into smaller parts may need consideration if reforms fail. American Electric Power Co. has threatened to leave PJM, and Pennsylvania has also threatened withdrawal. Wholesale PJM power prices rose 76% in the first 3 months of 2026 from the same period in 2025, averaging $136.53 per megawatt-hour, while capacity costs climbed almost 400%. President Donald Trump and several governors have pushed for a one-time auction in which tech companies would fund new generation through 15-year capacity contracts.
The deeper issue is PJM's complex governance and market design: more than 500 voting members, including utilities and generators, influence policy while staff and a board also make decisions. Mills described a credibility gap between prices high enough to spur power plant construction and bills low enough for households to afford. PJM has outlined options including more long-term contracts and even possible electricity rationing among consumers, while climate-driven heat and storms raise blackout risks. PJM's independent market monitor estimates the data center boom added about $23 billion in capacity-insurance costs for the 3 years ending in mid-2028, and officials warn that AEP's exit could trigger wider fragmentation without federal intervention.